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Currently we are at 137.61. We are looking for a continuation to the 1.618 Fibo Resistance area @ 138.46 which should produce the head of a head and shoulders pattern. The average daily true range (ATR) for the pair currently is 126 pips.…

Outlook in EURUSD remains neutral as long as 1.0928/1.0870 support holds on a daily closing basis, resistance comes at the 1.1000/1.1061 levels, a halt is likely but a break would open 1.1151 before the next fall. However, a clear break above the 1.1151 levels will extend recovery towards the 1.1326 levels before the next fall..

On the downside, support comes at the 1.0928 levels ahead of the 1.0870 levels (main), a clear break -sustained breakout – below the 1.0870 levels will…

EUR failed to stay above 1.1000 last week beacuse of the fears about the rumors of Greece leaving the Eurozone soon. Everybody is waiting to see what will happen this month. Of course such move will throw markets into panic for several days and this will affect badly all pairs with much unpredictable moves, so i doubt that someone has interest of Greece leaving now. Greek's prime minister knows this and i must confess he is using it well against his partners. In this difficult situation it…

A big bullish white candle has formed. Prices closed considerably higher than open. If the candle appears when prices are "low," it may be the first sign of a bottom. If it occurs when prices are rebounding off a support area, a moving average, trend line, or retracement level, the long white candle adds credibility to the support. Likewise, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the…

EURUSD: With EUR closing flat the past week, it faces the risk of a move higher in the new week. Resistance is seen at the 1.1050 level with a cut through here opening the door for more upside towards the 1.1100 level. Further up, resistance lies at the 1.1150 level where a break will expose the 1.1200 level. Conversely, support lies at the 1.0950 level where a violation will aim at the 1.0900 level. A break of here will aim at the 1.0850…

What ProAct Forex Target Traders See: We are currently sitting @ 1.0983 in a new uptrend. We are looking initially for the R4 Resistance @ 1.1060 and we should see a continuation there to 1.1205 before the pullback. The average daily true range (ATR) for the pair currently is 127 pips.…

USDCHF: Price weakness saw USDCHF declining the past week with risk of more weakness on the cards. Resistance resides at the 0.9500 level with a breach targeting the 0.9550 level. A breather may occur here and turn the pair lower but if taken out, expect a push higher towards the 0.9600 level. Conversely, on the downside, support comes in at the 0.9400 level. A turn below here will open the door for more weakness to occur towards the 0.9350…

USDJPY: Having capped its strength at the 124.45 level to close marginally higher on a rejection candle on Thursday, further weakness is expected. On the upside, resistance resides at the 124.50 level with a turn above here aiming at the 125.00 level. A break will target the 125.50 level. Further out, resistance comes in at the 126.00 level where a violation will aim at the 126.50 level. Its daily RSI is bullish and pointing higher supporting this…

Currently we are at 2.0021. We are looking for a continuation to the Fibo Resistance area @ 2.0080 with an overall target @ 2.0295. The average daily true range (ATR) for the pair currently is 242 pips.…

With breaking above the key resistance 123.30 , large bullish implications are in sight towards the 128.30 levels in the upcoming days . As a result; The USDJPY will have to hold above the 123.30 levels on a daily closing basis to push the market for further upside gains , resistance comes at the 124.70 levels, a halt is likely but a break will open 126.40 next, further upside will target the 128.30 levels where topping is strongly suggested and reversal may occur…

GBPUSD: With the pair weakening further on Tuesday, further bearishness is envisaged possibly towards the 1.5290 level. On the downside, immediate support lies at the 1.5300 level where a break if seen will aim at the 1.5250 level. A break of here will turn attention to the 1.5200 level. Further down, support lies at the 1.5150 level. On the upside, resistance resides at the 1.5450 level with a break aiming at the 1.5500 level. A violation…

No recent posts due to an intense, info filled, comprehensive article for FX Trader Magazine site on upcoming RBNZ June 11. Cut or on hold for RBNZ is found predominately in CPI Inflation Tradables Vs Inflation Non Tradables. This relationship historically since 1985 NZD Free Float is seriously deficient and misaligned. How this corrects is a mystery unless New Zealand Exports their way out or maybe the world rights itself. But Tradable deficiency caused Import and Export prices…

Intraday outlook in GBPUSD has turned neutral with risk to the downside, resistance comes at the 1.5413 levels, sustained breakout – 4 hour – closing above the 1.5413 levels will suggest short term bottoming around 1.5353 levels and put the pair in recovery mode, If seen, focus will shift on the 1.5528 levels before the next fall, However; a clear break above the 1.5528 levels will extend recovery towards the 1.5700 levels ….

Outlook in EURUSD remains on the downside as long as 1.0959 resistance holds on a daily closing basis, support comes at the 1.0845 levels , sustained trading – daily closing – below the 1.0845 levels will target 1.0665 next, a halt is very likely but further down will pave the way towards the 1.0461 levels.

On the upside, resistance comes at the 1.0959 levels , a clear break will turn outlook neutral and open the 1.1061/1.1151 levels before the next fall…